Mortensen Resigns as CEO of BW Group

Singapore-headquartered BW Group announced Monday that CEO Carsten Mortensen has resigned after three years on the job. The company said Mortensen was resigning for personal reasons. The resignation is effectively immediately. BW Group Chairman, Andreas Sohmen-Pao, commented: “Carsten and I have had a great partnership working closely together to grow the company, but the … [Read more...]

BW Group Ups Stake in Hafnia Tankers to 43.5%

BW Group has entered into a definitive agreement to buy an additional 36.3% stake in Hafnia Tankers, bringing its total stake in the product tanker company to 43.5%. BW Tankers currently owns and operates a fleet of 55 product tankers in the LR2, LR1 and MR segments. Hafnia Tankers, which was formed in 2010 by the former top management of Tankers Inc., owns and operates a … [Read more...]

DHT Rejects Another Bid by Rival Frontline

OSLO, May 7 (Reuters) - Tanker firm DHT Holdings rejected on Sunday a fifth takeover proposal from shipping tycoon John Fredriksen's Frontline, calling the $500 million all-share bid "woefully inadequate". Frontline's plan to form the world's largest private oil tanker group was first revealed in January when DHT said it had received an unsolicited offer, which it later … [Read more...]

Frontline Takes Legal Battle Over DHT to Marshall Islands

OSLO, April 27 (Reuters) - John Fredriksen's Frontline is switching its legal battle for control of tanker operator DHT Holdings from New York to the tiny Marshall Islands after making a fifth offer for the company this week. Frontline, controlled by Norwegian billionaire Fredriksen and owner of a 14.5 percent stake in DHT, has over the past year tried to acquire all of … [Read more...]